MolochDao Membership Proposal

1. How can you contribute to Moloch?

2. What kinds of projects do you want to see get funded?

I’m requesting to join MolochDao specifically to propose funding the ProgPow audit. Specifically, the remaining amount of the Gitcoin grant.

Additionally, I’d like to see funding for research into the later eth2.0 phases, client security audits, and infrastructure (multi-client testnets?).

In general, I think anything in Serenity Layer 1 is up for discussion.

In terms of research, it seems that there are still some open questions around cross-shard transactions and state transitions. I would support proposals that will help complete the ethereum/eth2.0-specs repository.

The point of MolochDao is to fund public goods so I would prioritize projects that are unlikely to receive funding from other sources, or if there are potential conflicts of interest.

Good projects often have a clearly defined sequence of funding rounds, perhaps something analogous to traditional VC rounds. Start with an initial seed, and reward the project as it reaches its targets.

4. Name one project you like and one you dislike, and provide reasons for both.

Like – Starkware DEX:

There are a lot of amazing projects out there. Starkware’s DEX is one of them. Excellent research and technical foundations. Project is very innovative, but still limited in scope with a clear definition-of-done. Solves a pressing problem (DEX liquidity). Their solution will be a foundation for tackling other, more ambitious challenges for Ethereum.

Dislike – Celsius Network:

A weak and uninteresting answer would be to criticize another chain. Obviously I literally have a vested interest in Ethereum.

So instead I’ll say Celsius Network. I would be more comfortable with custodial projects like Celsius if they had some kind of Proof-of-Custody scheme (I believe wrapped BTC does this). There is obviously the risk of users losing money. Worse still is conditioning users to feel comfortable parting with their private keys: “Not your keys, not your crypto”.

5. What excites you about Ethereum? Moloch?

Ethereum can be a tool for building trust and enabling human coordination. The technology is fascinating and it is fueling advances in applied cryptography, formal methods, and game theory.

Of course, I also believe that Ethereum is a good investment. Technically it is very capable while still remaining decentralized (another dislike: layer 1 delegated proof of stake). It has good network effect in terms of developer mindshare and market cap. The tooling is good. It does things bitcoin cannot do. There are a lot of nice, intelligent people working on it.

The thing that excites me most about Ethereum is the open and accepting community. This is Ethereum’s greatest asset. Software is for everyone and as far as I can see Ethereum has done a relatively good job of embodying that ethos. Let’s keep that going.

I’d like to take part in the economic experiment that is MolochDao. The tragedy of the commons is a very real threat to human prosperity and our environment. I bet we’ll learn a lot from MolochDao. Also I can’t wait to see Eth2 become a reality. I think it would be a great human achievement and will unlock a lot of value. It’s a very exciting time.